2015-10-14T15:21:29-07:00 2014-12-31 TED SOILEAU CPA LLC 2133 Silverside Dr Ste C Baton Rouge LA 70808 990 2014-01-01 720455641 INSULATORS LOCAL NO 53 WELFARE FUND INSU 5044689654 2001 VETERANS BLVD KENNER LA 70062 LEO DAMARIS Chairman 2015-10-14 true TED A SOILEAU P00852991 2257667910 X 2014 2016-02-25 16:41:14Z 4402913 false false X N/A X 1953 LA THE FUND RECEIVES CONTRIBUTIONS FROM PARTICIPATING CONTRACTORS/ MEMBERS WHO EMPLOY MEMBERS OF THE UNION. CONTRIBUTIONS ARE RECEIVED ON EACH COVERED HOUR WORKED. THESE FUNDS ARE USED TO PROVIDE HEALTH INSURANCE BENEFITS TO ELIGIBLE PARTICIPANTS. 7 7 2 7 0 0 1542200 1616319 69119 119751 0 1611319 1736070 0 1386897 1415970 58772 62039 0 0 196488 444419 1642157 1922428 -30838 -186358 5383681 5038927 975191 872627 4408490 4166300 X THE FUND RECEIVES CONTRIBUTIONS FROM PARTICIPATING CONTRACTORS/ MEMBERS WHO EMPLOY MEMBERS OF THE UNION. CONTRIBUTIONS ARE RECEIVED ON EACH COVERED HOUR WORKED. THESE FUNDS ARE USED TO PROVIDE HEALTH INSURANCE BENEFITS TO ELIGIBLE PARTICIPANTS. false false 1118758 THE FUND PROVIDES MAJOR MEDICAL BENEFITS FOR HOSPITAL, DOCTOR , LAB AND DIAGNOSTIC HEALTH CARE TO ELIGIBLE PARTICIPANTS AND THEIR QUALIFIED DEPENDENTS. 297771 THE FUND PROVIDES A PRESCRIPTION DRUG CARD TO ELIGIBLE PARTICIPANTS AND THEIR QUALIFIED DEPENDENTS. 151260 STOP LOSS INSURANCE COVERAGE 226406 1794195 false false false false false false false false false false true true false false true true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true true true false false true 0 0 false 2 true false false false false false false false false false false false false X 7 7 false true false false true true false true true false false true true true true true true false true false X JAMES PRATT ADMINISTRATOR 5044689654 2001 VETERANS BLVD SUITE LA 70062 X LEO DAMARIS Chairman 1.00 0.00 X 0 0 0 SCOTT MCLEAN MGMT TRUSTEE 1.00 0.00 X 0 0 0 DAVID SCHUBER MGMT TRUSTEE 1.00 0.00 X 0 0 0 CARL WILSON UNION TRUSTEE 1.00 0.00 X 0 0 0 ANDY O'BRIEN ALT UNION TRUST 1.00 0.00 X 0 0 0 JOSEPH LOYACANO UNION TRUSTEE 1.00 0.00 X 0 0 0 MICHAEL O'CONNOR MGMT TRUSTEE 1.00 0.00 X 0 0 0 JAMES PRATT ADMINISTRATIVE MANAGER 20.00 20.00 X 24799 74773 28281 24799 74773 28281 0 false false false SCRIPT CARE PO BOX 26019 DEPT 7062 BEAUMONT TX 777206019 PHARMACY BENEFIT MGT 10308 BCBS 5525 REITZ AVE BATON ROUGE LA 70809 MAJOR MEDICAL, RX 88061 0 0 EMPLOYER CONTRIBUTIONS 525100 1549186 1549186 SELF PAY & RETIREE PREM 525100 67133 67133 1616319 73860 73860 0 0 0 2712734 2666843 45891 45891 45891 0 0 0 0 1736070 1662210 73860 0 0 0 1415970 1415970 24799 24799 0 20558 20558 6706 6706 6488 6488 3488 3488 88061 88061 12934 12934 14574 14574 0 0 10344 10344 45690 45690 0 5539 5539 1396 1396 0 4903 4903 0 0 0 0 0 0 2652 2652 STOP LOSS 151260 151260 RECIPROCAL TRANSFERS 55981 55981 PCORIC 37233 37233 TRUSTEE EXPENSES 10548 10548 3304 3304 1922428 1794195 128233 0 600884 266345 0 0 160899 102985 0 0 0 0 0 670 670 0 0 4621898 4669597 0 0 0 5383681 5038927 20191 1627 955000 871000 975191 872627 X 4408490 4166300 4408490 4166300 5383681 5038927 X -186358 -55832 X false true X true false 670 670 4669597 MEDICAL BENEFIT OBLIGATIONS 871000 871000 X 1613909 -55832 -55832 1669741 10344 55985 66329 1736070 1856101 1856101 10344 55983 66327 1922428 Part X : FIN48 Footnote Accounting for the uncertainty of tax positions can impact the financial statements. Even though the Fund is exempt from income taxes, The Fund must still consider whether its exempt income and other activities of the Fund might be determined to be unrelated business income, and whether the Fund has properly maintained its tax exempt status. FASB ASC 740 (i.e. FIN # 48 ), published by the Financial Accounting Standards Board, addresses the issue of accounting for the uncertainty of material tax positions impacting the financial statements. The Board of Trustees has adopted the provisions of FASB ASC 740 effective December 31, 2008. The accounting for all material positions taken, or expected to be taken, on any income tax return is governed by FASB ASC 740. Income tax returns include those positions that were filed or that should have been filed with Federal taxing authorities. It is the Board of Trustees policy to assess all material postions taken on any federal income tax return. The Board will require its legal and tax counsel to communicate to them all such uncertain tax positions in order to evaluate the impact of the tax position and the reporting and disclosure required. The requirement will apply to not only the current reporting year but also to all prior open reporting years that could still be subject to examination by a taxing authority. The Board of Trustees has determined that any material uncertain tax positions that are presented to the Board of Trustees will be recognized and measured using a " more-likely-than-not ", (MLTN) threshold. The MLTN threshold means that;1. A benefit related to an uncertain tax position may not be recognized in the financial statements unless it is MLTN that the position will be sustained based on its technical merits, and 2. There must be more than a 50 % likelihood that the position would be sustained if challenged and considered by the highest court in the relevant jurisdiction.Measurement of any uncertain tax position will require calculating the cumulative probability of an outcome either for or against the tax position. The tax benefit of a qualifying position is the largest amount of tax benefit that is more than 50 % likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. Initial recognition of an uncertain tax position will require continued reassessment of the tax position on an annual basis. As of each year end any unresolved uncertain tax postions must be reassessed, and the Trustees must determine whether;1. the factors underlying the sustainability assertions have changed and,2. the amount of the recognized tax benefit is still appropriate.Developments such as case law, changes in tax law, new rulings or regulations issued by taxing authorities, could affect whether a tax position should be recognized or the amount that should be reported. The Fund will be required to accrue interest and penalties that, under present tax law, the Fund would incur if the uncertain tax position ultimately were not sustained.For the year ending December 31, 2014, no uncertain tax positions were determined to exist. Part XI, Line 4b: Other revenue amounts included on 990 but not included in F/S RECIPROCAL TRANSFERS $55985 Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S RECIPROCAL TRANSFERS $55983 Form 990, Part III, Line 4d: Other Program Services Description OTHER PROGRAM SERVICES 4: THE FUND RETAINS THE SERVICES OF A THIRD PARTY CONSULTANT TO PROVIDE CONSULTING SERVICES TO THE FUND. OTHER PROGRAM SERVICES 5: OTHER ADMINISTRATIVE AND CONSULTING COSTS ARE PROGRAM RELATED. OTHER PROGRAM SERVICES 6: STOP LOSS INSURANCE COVERAGE OTHER PROGRAM SERVICES 7: RECIPROCAL EMPLOYER CONTRIBUTION TRANSFERS OTHER PROGRAM SERVICES 8: PCORIC HEALTH CARE FEE AFFORDABLE CARE ACT Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company A THIRD PARTY ADMINISTRATOR, SEI PRIVATE TRUST COMPANY, HAS BEEN RETAINED BY THE BOARD OF TRUSTEES TO HANDLE THE INVESTMENT/CUSTODIAN ADMINISTRATIVE DUTIES OF THE FUND. THOSE DUTIES INCLUDE PROCESSING INVESTMENT TRANSACTIONS AND REPORTS, AND VALUING INVESTMENT ASSETS.THE FUND ALSO RETAINS THE SERVICES OF ANOTHER THIRD PARTY ADMINISTRATOR TO PROVIDE CLAIMS MANAGEMENT, PROCESSING AND PAYMENT. THAT COMPANY IS BENEFIT MANAGEMENT SERVICES.THE FUND ALSO RETAINS THE SERVICES OF A THIRD PARTY ADMINISTRATOR TO PROVIDE PRESCRIPTION DRUG MANAGEMENT, PROCESSING AND PAYMENT. THAT COMPANY IS SCRIPT CARE. Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder THE FUND IS MADE UP OF MEMBERS WHO'S ELIGIBILITY IS DETERMINED UNDER THE TERMS OF A COLLECTIVELY BARGAINED AGREEMENT ENTERED INTO BY THEIR RESPECTIVE EMPLOYERS AND ASBESTOS WORKERS LOCAL 53 UNION. THE FUND IS GOVERNED BY A JOINT BOARD OF TRUSTEES CONSISTING OF ELECTED MEMBERS OF THE LOCAL AND APPOINTED REPRESENTATIVES OF THE EMPLOYERS. Form 990, Part VI, Line 11b: Form 990 Review Process THE BOARD OF TRUSTEES RETAINS THE SERVICES OF AN INDEPENDENT PUBLIC ACCOUNTING FIRM TO PREPARE THE ANNUAL IRS FORM 990. THIS FIRM WILL PROVIDE A COPY OF THE COMPLETED FORM 990 TO THE CHAIRMAN OF THE BOARD OF TRUSTEES, THE FUND ADMINISTRATOR, AND THE INDIVIDUAL TRUSTEES OF THE BOARD UPON THEIR REQUEST FOR REVIEW AND APPROVAL. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts THE JOINT BOARD OF TRUSTEES MEETS QUARTERLY TO ADDRESS POLICY ISSUES, PLAN OF BENEFIT CHANGES, INVESTMENT POLICY REVIEW, POLICY DECISIONS, APPEAL OF BENEFITS, REVIEW OF EMPLOYER CONTRIBUTION REPORTS AND DELINQUENCIES, LEGAL COUNSEL REPORTS, AND FUND ADMINISTRATOR REPORTS. DURING THESE MEETINGS ANY ISSUES IMPACTING CONFLICT OF INTEREST OR PROHIBITIVE TRANSACTIONS WILL BE ADDRESSED BY THE JOINT BAORD OF TRUSTEES AND ACTED UPON. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees THE FULL BOARD OF TRUSTEES MEET TO DISCUSS THE WAGES OF THE EMPLOYEES. THE FULL BOARD OF TRUSTEES VOTE ON THE WAGES FOR THOSE KEY EMPLOYEES. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available A SUMMARY ANNUAL REPORT IS PREPARED ANNUALLY BY THE INDEPENDENT CPA FIRM WHO PREPARES THE FORM 990 AS WELL AS THE DOL FORM 5500. THIS SUMMARY ANNUAL REPORT, AS WELL AS THE ANNUAL AUDITED FINANCIAL STATEMENTS AND THE IRS FORM 990, ARE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. THE SUMMARY ANNUAL REPORT IS MAILED ANNUALLY TO ALL PARTICIPANTS OF THE FUND AND TO ALL PARTICIPATING EMPLOYERS. FORM 990, PART XI, LINE 5 UNREALIZED LOSS ON INVESTMENT ASSETS HELD AT 12/31/2014 TOTALED $ 55,832 . INSULATORS LOCAL NO 53 PENSION FUND 2001 VETERANS BLVD SUITE 201 KENNER LA 70062 720542804 ERISA PENSION BENEFITS LA 501(c)(9) YES true AWLU #53 JAC 2001 VETERANS BLVD SUITE 200 KENNER LA 70062 ERISA TRAINING BENEFITS LA 501(C)(3) YES NO false ASBESTOS WORKERS LOCAL #53 2001 VETERANS BLVD SUITE 201 KENNER LA 70062 720184645 SPONSORING ORGANIZATION LA 504(C)(5) NO false INSULATORS LOCAL NO 53 WELFARE FUND 2001 VETERANS BLVD SUITE 201 KENNER LA 70062 ERISA WELFARE LA 501(C)(9) NO false NATIONAL AW WELFARE FUND 7130 COLUMBIA GATEWAY DR STE A COLUMBIA MD 21046 CONTRIBUTING EMPLOYER MD 501(C)(5) NO false AWLU #19 N27 W23155 ROUNDY DR PEWAUKEE WI 53072 CONTRIBUTING EMPLOYER WI 501(C)(5) NO false AW LOCAL #17 18520 SPRING CREEK DRIVE TINLEY PARK IL 60477 CONTRIBUTING EMPLOYER IL 501(C)(5) NO false AWLU #16 3801 PARK RD BENICA CA 34510 CONTRIBUTING EMPLOYER CA 501(C)(5) NO false AWLU# 21 11580 REEDER ROAD DALLAS TX 752292178 CONTRIBUTING EMPLOYER TX 501(C)(5) NO false ASSOCIATED THIRD PARTY ADMINISTRATORS 7600 SW MOHAWK ST TUALATIN OR 97062 CONTRIBUTING EMPLOYER OR 501(C)(5) NO false AWLU #23 PO BOX 6480 HARRISBURG PA 17112 CONTRIBUTING EMPLOYER PA 501(C)(5) NO false HEAT & FROST INSULATORS LOCAL87 INSURANC 497 NORTH KRUEGER AVE NEW BRAUNFELS TX 78130 CONTRIBUTING EMPLOYER TX 501(C)(5) NO false WS INSULATORS 7130 COLUMBIA GATEWAY DR COLUMBIA MD 21046 CONTRIBUTING EMPLOYER MD 501(C)(5) NO false LOCAL #53 IAF 2001 VETERANS BLVD SUTIE 201 KENNER LA 70062 720184645 SPONSORING ORGANIZATION LA 501 (C)(5) NO false AWLU #2 27 ROLAND AVE STE 200 MOUNT LAUREL NJ 08054 CONTRIBUTING EMPLOYER NJ 501(C)(5) NO false AWLU #1 3325 HOLLENBERG DR BRIDGETON MO 63044 CONTRIBUTING EMPLOYER MO 501(C)(5) NO false AWLU #45 4904 NORTH SUMMIT STREET TOLEDO OH 43611 CONTRIBUTING EMPLOYER OH 501(C)(5) NO false ALLTEMP INSULATIONS INC PO BOX 5125 SLIDELL LA 70469 CONTRIBUTING EMPLOYER LA NO C CORP false EAGLE INC PO BOX 51568 NEW ORLEANS LA 70150 203927925 SPONSORING ORGANIZATION LA NO C CORP false EXCEL MODULAR 1050 NORTH PINE ROAD TEXAS CITY TX 77591 CONTRIBUTING EMPLOYER TX NO C CORP false FLOUR CONSTUCTORS INTERNATIONAL 1 GALLERIA BLVD SUITE 1070 METAIRIE LA 70001 CONTRIBUTING EMPLOYER LA NO C CORP false PCI 16400 COLLEGE BLVD LENEXA KS 66219 CONTRIBUTING EMPLOYER KS NO C CORP false QUALITY THERMAL INC 414 38TH STREET NEW ORLEANS LA 70124 CONTRIBUTING EMPLOYER LA NO C CORP false SCI PO BOX 77304 BATON ROUGE LA 70879 CONTRIBUTING EMPLOYER LA NO C CORP false SOUTHEAST INSULATION INC PO BOX 15528 BATON ROUGE LA 70895 CONTRIBUTING EMPLOYER LA NO C CORP false TAYLOR - SEIDENBACH INC PO BOX 50368 NEW ORLEANS LA 70150 CONTRIBUTING EMPLOYER LA NO C CORP false TRANSCO PRODUCTS INC 55 E JACKSON BLVD CHICAGO IL 60604 CONTRIBUTING EMPLOYER IL NO C CORP false TURNER INDUSTRIES PO BOX 2750 BATON ROUGE LA 70821 550869273 SPONSORING ORGANIZATION LA NO C CORP false SHAW STONE & WEBSTER PO BOX 217 ST FRANCISVILLE LA 70775 CONTRIBUTING EMPLOYER LA NO C CORP false CSI INC PO BOX 199 PORT ALLEN LA 70767 203931184 SPONSORING ORGANIZATION LA NO C CORP false MERCEDEZ-BENZ SUPERDOME 1500 SUGAR BOWL DRIVE NEW ORLEANS LA 70112 CONTRIBUTING EMPLOYER LA NO C CORP false VECTA 38429 LA-30 GONZALES LA 70737 CONTRIBUTING EMPLOYER LA NO C CORP false ATLANTIC PLANT SERVICES 950 MAHAFFEY RD PORT ALLEN LA 70767 CONTRIBUTING EMPLOYER LA NO C CORP false TIC INSULATION CONTRACTORS 8401 Gateway Terrace Oklahoma City OK 73149 CONTRIBUTING EMPLOYER OK NO C CORP false ALLIANCE SPECIALTIES INC 1644 NW 5TH ST OKLAHOMA CITY OK 73106 CONTRIBUTING EMPLOYER OK NO C CORP false false false false false false false false false false false false true false false false true false false false INSULATORS LOCAL NO 53 PENSION FUND l 9868 COST AWLU #53 JAC l 1136 COST ASBESTOS WORKERS LOCAL #53 l 22318 COST INSULATORS LOCAL NO 53 WELFARE FUND l 4250 COST NATIONAL AW WELFARE FUND l 27180 COST AW LOCAL #17 l 6393 COST LOCAL #53 IAF l 8492 COST AWLU #2 l 3125 COST AWLU #1 l 233 COST AWLU #45 l 1373 COST ALLTEMP INSULATIONS INC l 113149 COST EAGLE INC l 417921 COST EXCEL MODULAR l 31174 COST FLOUR CONSTUCTORS INTERNATIONAL l 13475 COST PCI l 49854 COST PCI p 668 COST QUALITY THERMAL INC l 81350 COST SCI l 131006 COST SOUTHEAST INSULATION INC l 9520 COST TAYLOR - SEIDENBACH INC l 39954 COST TRANSCO PRODUCTS INC l 2204 COST TURNER INDUSTRIES l 299695 COST SHAW STONE & WEBSTER l 65858 COST CSI INC l 126392 COST VECTA p 9299 COST ATLANTIC PLANT SERVICES p 41283 COST TIC INSULATION CONTRACTORS l 29336 COST ALLIANCE SPECIALTIES INC p 4906 COST